Pagegroup (PAGE)

Sector:

Support

Index:

FTSE 250

448.60p
   
  • Change Today:
      3.60p
  • 52 Week High: 495.00p
  • 52 Week Low: 365.00p
  • Currency: UK Pounds
  • Shares Issued: 328.62m
  • Volume: 774,642
  • Market Cap: £1,474.18m

PageGroup continues to deliver 'strong growth' in Q2

By Iain Gilbert

Date: Wednesday 13 Jul 2022

LONDON (ShareCast) - (Sharecast News) - Recruitment business PageGroup said on Wednesday that it had continued to see "strong growth" in the second quarter of its trading year, with gross profit growing amid another solid broad-based performance across its geographies, disciplines and brands.
PageGroup said group gross profits were up 25.5% year-on-year at £280.9m following a record performance in June - its second month with gross profit in excess of £100.0m.

In Europe, the Middle East, and Africa, gross profits were up 29.5%, with gross profits up 21% and 32% in France and Germany, respectively. In Asia Pacific, gross profits improved 11.7%, while in the Americas and the UK, gross profits grew 34.1% and 22.6%, respectively.

"This performance was achieved despite the backdrop of macro-economic and geopolitical uncertainty as well as continued Covid-19 restrictions in certain markets. We believe that our strategy of maintaining and investing in our platform throughout the pandemic; by investing in experienced hires; and focusing on technology and innovation, has been key to us achieving these outstanding results," said chief executive Steve Ingham.

"We delivered increased levels of productivity, with the group continuing to benefit from favourable trading conditions, including wage inflation and increased fee rates resulting from the high demand and short supply of candidates, as well as a shorter time to hire facilitated by video interviewing, and investments in new systems."

Looking forward, the FTSE 250-listed group said it was "clearly aware" of the heightened degree of global macro-economic and political uncertainty, particularly with regards to increasing inflation in the majority of the markets in which it operates.

However, PageGroup said it was monitoring all KPIs in the business regularly and had seen "no significant changes" so far, apart from usual seasonal movements.

"Given our highly diversified and adaptable business model, with a cost base that can be adjusted rapidly, we will look to progress towards our strategic goals while remaining vigilant. We are pleased with the group's performance in the first half of the year and currently expect 2022 full-year operating profit to be in line with company compiled consensus of £205.0m," added Ingham.

As of 0930 BST, PageGroup shares were down 1.49% at 423.60p.



Reporting by Iain Gilbert at Sharecast.com

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Pagegroup Market Data

Currency UK Pounds
Share Price 448.60p
Change Today 3.60p
% Change 0.81 %
52 Week High 495.00p
52 Week Low 365.00p
Volume 774,642
Shares Issued 328.62m
Market Cap £1,474.18m

Pagegroup Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
22.62% below the market average22.62% below the market average22.62% below the market average22.62% below the market average22.62% below the market average
26.67% below the sector average26.67% below the sector average26.67% below the sector average26.67% below the sector average26.67% below the sector average
Price Trend
31.77% above the market average31.77% above the market average31.77% above the market average31.77% above the market average31.77% above the market average
14.85% above the sector average14.85% above the sector average14.85% above the sector average14.85% above the sector average14.85% above the sector average
Income
65.70% above the market average65.70% above the market average65.70% above the market average65.70% above the market average65.70% above the market average
47.69% above the sector average47.69% above the sector average47.69% above the sector average47.69% above the sector average47.69% above the sector average
Growth
71.08% below the market average71.08% below the market average71.08% below the market average71.08% below the market average71.08% below the market average
82% below the sector average82% below the sector average82% below the sector average82% below the sector average82% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 9
Sell 0
Strong Sell 0
Total 11
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Pagegroup Dividends

  Latest Previous
  Final Special
Ex-Div 16-May-24 31-Aug-23
Paid 21-Jun-24 13-Oct-23
Amount 11.24p 15.87p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 218,326 @ 448.60p
16:35 417 @ 448.60p
16:35 1,122 @ 448.60p
16:35 306 @ 448.60p
16:35 125 @ 448.60p

Pagegroup Key Personnel

CFO Kelvin Stagg

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